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Thu, 05 Sep 2024 Business & Finance

Agric Ministry, ADB and Ghana Exim Bank poise to revamp agro industry under 1D1F

By Ruth Aboagye II Contributor
Minister of Food and Agriculture, Bryan AcheampongMinister of Food and Agriculture, Bryan Acheampong

The Ministry of Food and Agriculture (MoFA), under the OVCF programme, and the Agricultural Development Bank (ADB) have partnered with Central Citrus Processing Limited to revitalize Ghana's citrus industry.

This collaboration, with financial backing from Ghana Exim Bank, aims to support the development of over 75,000 hectares of abandoned citrus farms in the Central Region, specifically in Cape Coast.

The partnership is projected to generate an estimated income of GHC600 million within four years. Additionally, over 3,000 farmers across three districts, including the AAK District in the Central Region, along with 5,000 youths and women, are benefiting from crop improvement initiatives and the introduction of new citrus varieties like the Pisie orange and passion fruits, supported by Central Citrus Processing Limited (CCPL).

CCPL is the third-largest citrus processing plant in Africa and is expected to process over 15 tons of oranges into fruit juice per hour. The factory, in collaboration with Ekumfi Juices and Processing Factory, aims to position Ghana as a leader in the natural fruits and juices industry.

This initiative is set to create over 20,000 sustainable jobs through the value chain and outgrower support programs. It also aims to reduce Ghana's reliance on imported fruit juice, which currently costs the country $200 million annually.

The factory, which is the first and largest passion fruit processing plant in Africa, will source directly from Ekumfi Fruits and Juices Factory to blend its Eku tropical varieties, enhancing the flavor of its products. According to GIZ evaluations, Ghana has two of the most suitable sources of oranges, making this partnership a prudent investment for ADB.

The citrus industry in Ghana has faced challenges over the past decade, with many farmers abandoning their farms due to poor revenue, insect infestations, plant diseases, and unproductive work processes. These issues have often led farmers to switch to cultivating rubber and cassava instead.

ADB's financial support aims to improve the quality of citrus production and increase sustainable income for all stakeholders in the citrus value chain. Citrus fruits, known for their rich flavors, are also a valuable source of vitamins, minerals, and dietary fiber, essential for growth, development, and overall nutritional well-being. This initiative promises to rejuvenate the citrus industry and boost Ghana's economy.

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Started: 04-10-2024 | Ends: 31-12-2024

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